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7115-7125 S East End Ave 31 Unit Apartment Building $3,050,000 ($98,387/Unit) 9.01% Cap Rate Chicago, IL 60649
INVESTMENT HIGHLIGHTS
- Nineteen (19) 2Bd/1Ba & Twelve 1Bd/1Ba Units
- 9% Cap Rate
- $2,135,000 Loan Balance | Matures 1/1/2032
- Completely Gut Renovated
- Assumable Debt 3.85% Interest Rate
- Modern Kitchens & Baths w/ Granite Countertops & Stainless Steel Appliances
EXECUTIVE SUMMARY
Kiser Group is pleased to exclusively present for purchase, 7115 S. East End, an absolutely beautiful, thirty-one (31) unit courtyard
building located in Chicago's historic and booming South Shore Neighborhood. Sitting just blocks away from Lake Michigan to
the East, the neighborhood has seen unprecedented growth and demand over the years. With an abundance of recent developments in the area, including the construction of the Obama Presidential Library, the neighborhood is poised for further growth and appreciation.
7115 S. East End has a great unit composition comprised of nineteen (19) 2Bd/1Ba, and twelve (12) 1Bd/1Ba. All of the apartments have been renovated with new kitchens and baths complete with stainless steel appliances and granite countertops. Additional improvements to the building consist of, but not limited to: an updated roof, 100% copper plumbing, individual furnaces, newer hot water tanks (2020), and an on-site laundry facility.
7115 S. East End provides an investor immediate scale in one of Chicago’s most desirable appreciating neighborhoods. From day one, a new owner will realize an in place cap rate of 9% along with an in place cash return of almost 17%. Solely by increasing under market rents to market rates currently and already being achieved in the building, an investor has the opportunity to realize a cap rate of over 11%.
Assumable Financing:
- $2,135,000 Debt balance
- Loan: 3.85%; Expires 1/1/2032
building located in Chicago's historic and booming South Shore Neighborhood. Sitting just blocks away from Lake Michigan to
the East, the neighborhood has seen unprecedented growth and demand over the years. With an abundance of recent developments in the area, including the construction of the Obama Presidential Library, the neighborhood is poised for further growth and appreciation.
7115 S. East End has a great unit composition comprised of nineteen (19) 2Bd/1Ba, and twelve (12) 1Bd/1Ba. All of the apartments have been renovated with new kitchens and baths complete with stainless steel appliances and granite countertops. Additional improvements to the building consist of, but not limited to: an updated roof, 100% copper plumbing, individual furnaces, newer hot water tanks (2020), and an on-site laundry facility.
7115 S. East End provides an investor immediate scale in one of Chicago’s most desirable appreciating neighborhoods. From day one, a new owner will realize an in place cap rate of 9% along with an in place cash return of almost 17%. Solely by increasing under market rents to market rates currently and already being achieved in the building, an investor has the opportunity to realize a cap rate of over 11%.
Assumable Financing:
- $2,135,000 Debt balance
- Loan: 3.85%; Expires 1/1/2032
PROPERTY FACTS
| Price | $3,050,000 | Apartment Style | Mid-Rise |
| Price Per Unit | $98,387 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.35 AC |
| Cap Rate | 9.01% | Building Size | 25,962 SF |
| No. Units | 31 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 4 |
| Property Subtype | Apartment | Year Built | 1925 |
| Zoning | RT-4, Chicago - Residential Two-Flat, Townhouse and Multi-Unit District | ||
| Price | $3,050,000 |
| Price Per Unit | $98,387 |
| Sale Type | Investment |
| Cap Rate | 9.01% |
| No. Units | 31 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.35 AC |
| Building Size | 25,962 SF |
| Average Occupancy | 100% |
| No. Stories | 4 |
| Year Built | 1925 |
| Zoning | RT-4, Chicago - Residential Two-Flat, Townhouse and Multi-Unit District |
AMENITIES
UNIT AMENITIES
- Balcony
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- Courtyard
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | - | 800 |
| 2+1 | 19 | - | 1,000 |
1 1
Walk Score®
Very Walkable (87)
PROPERTY TAXES
| Parcel Number | 20-25-102-007-0000 | Improvements Assessment | $228,298 |
| Land Assessment | $19,203 | Total Assessment | $247,501 |
PROPERTY TAXES
Parcel Number
20-25-102-007-0000
Land Assessment
$19,203
Improvements Assessment
$228,298
Total Assessment
$247,501
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7115-7125 S East End Ave
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